Adient (NYSE:ADNT) Issues Earnings Results

Adient (NYSE:ADNT - Get Free Report) announced its quarterly earnings results on Friday. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.39 by $0.15, Briefing.com reports. Adient had a return on equity of 7.90% and a net margin of 1.39%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter last year, the company posted $0.32 earnings per share. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. Adient updated its FY 2024 guidance to EPS.

Adient Price Performance

Shares of Adient stock traded down $2.81 during trading on Friday, hitting $27.41. 2,258,260 shares of the company's stock traded hands, compared to its average volume of 1,106,294. The company has a market cap of $2.50 billion, a PE ratio of 12.24, a PEG ratio of 0.31 and a beta of 2.39. The firm's fifty day moving average price is $31.82 and its 200 day moving average price is $33.30. Adient has a twelve month low of $26.97 and a twelve month high of $46.51. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.15 and a quick ratio of 0.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Adient from $40.00 to $37.00 and set a "neutral" rating for the company in a report on Monday, April 22nd. Wells Fargo & Company lowered their target price on Adient from $41.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, February 8th. Bank of America lowered their price objective on shares of Adient from $50.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, April 10th. Finally, Barclays reaffirmed an "equal weight" rating and set a $37.00 target price (down previously from $41.00) on shares of Adient in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Adient currently has a consensus rating of "Hold" and a consensus price target of $42.43.

Insider Buying and Selling

In other Adient news, EVP Heather M. Tiltmann sold 10,000 shares of Adient stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $33.68, for a total transaction of $336,800.00. Following the sale, the executive vice president now directly owns 55,669 shares of the company's stock, valued at $1,874,931.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company's stock.

Adient Company Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.